1 Surf Way 216, Monterey, California 93940, Monterey, 93940 - 1 bed, 1 bath
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Monterey, California 93940
This Penthouse Beachside Condo is a Prime Investment Opportunity, listed at $1,095,000—positioned well below the $1,129,584 Fair Market Value by 3%. This strategic entry point secures $34,584 in Instant Equity. Despite a Condition Rating of 4 reflecting its original 1993 finishes, the property offers unobstructed panoramic ocean views and elite resort-style amenities including heated pools and saunas. Located near Monterey High School, this rare-to-market asset combines lifestyle prestige with significant value-add potential through modernization. It is an ideal match for Owner-Occupants or secondary home buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1 Surf Way 216 Subject | $1,095,000* List Price | 1 | 1 | 718 | $1,573 | - |
A 1 Surf Way 115 Active | $849,000 List Price | 1 | 1 | 478 | $1,776 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1993 (31 years old), the property is dated and largely original. While it has been 'refreshed' with new carpet and paint, the kitchen and bathroom appear to be from the original construction period. It is functional and move-in ready but requires modernization of the kitchen, baths, and likely aging systems to meet current standards.
As a penthouse unit positioned steps from the sand, the property offers unobstructed, panoramic views of the Monterey Bay, beach, and city lights, providing a premium coastal living experience.
The luxury complex features an extensive suite of amenities, including two heated pools, saunas, spas, a fitness center, and club rooms, offering a high-end lifestyle beyond the unit itself.
This condo represents a unique investment or residence opportunity, having remained off the market for over 30 years in a highly desirable, walkable Monterey location.
The monthly association fee of $1,032 is significantly high for a one-bedroom unit, which may impact the overall affordability and long-term investment yield for some buyers.
At just 718 square feet, the living space is relatively compact for the million-dollar price point, potentially limiting the property's appeal to individuals or couples rather than larger households.
Spectacular! Extraordinary location! Rare opportunity - this condo has not sold in over 30 years! Large bright 1 bedroom penthouse condo located steps to the sand and sea. Recently refreshed with new carpet and paint throughout. The views are unobstructed & simply stupendous! Ocean, beach and city lights in front from living room, kitchen and deck. The dazzling sunsets will take your breath away! You won't need a boat tour to see dolphins and sea otters near the water's edge and whales a little further out. You can hear the surf crashing, smell the fresh salt air, feel the ocean breezes, all this from the comfort of your home. Luxury complex includes 2 heated pools, fitness room, club rooms, game rooms, saunas, spas. Enjoy the convenience of being close to Monterey's best attractions, culture, dining, shopping and just a 10 minute drive to Carmel-By-The-Sea. Walk the beach to Fisherman's Wharf and a little further to Cannery Row. Easy access to Hwy 1. This home is your gateway to the ultimate in beachside living.
No exterior & parking available.
Grades K-5 • 2.1 mi
Grades 6-8 • 2.7 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 38% |
| Baths | 1.0 | 2.0 | 46% |
| Square foot | 718 | 971 | 38% |
| Lot Size | - | - | 50% |
| Price | $1.09M | $602.5K | 88% |
| Price per sq ft | $1.5K | $674 | 96% |
| Built year | 1993 | 1977 | 81% |
| HOA | $1032.0 | $619 | 92% |
| Days on market | 60 | 187 | 8% |
Feb 21, 2026
$1,095,000
Initial Listing
Sep 1, 1995
$255,000
Public Record